Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Valuable Investment Opportunity. Two buildings to include three retail units totalling 7,000 sq ft
- Tenants Sainsbury's Supermarket. Domino's Pizza and Costa Coffee
- Occupying other units within the shopping centre Budgens, Martins the Newsagents, Banks, Restaurants, Bookmakers and a public House.
- Very busy neighbourhood shopping centre in densely populated residential area.
- Offers invited in excess of £3m for the freehold interest in both buildings including the three retail units.
- Our Clients would consider disposing of Jansel 2 (t/as Costa Coffee) under a separate agreement
- Jansel Square benefits from ample car parking, which is free for 2 hours and £1 thereafter.
- Bedgrove is probably one of the most popular neighbourhood shopping centres in Buckinghamshire
Aylesbury investment: The property provides a new extension to the Bedgrove Shopping Centre known as Jansel Square which benefits from ample car parking, which is free for 2 hours and £1 thereafter.
4,300 sq ft unit let to Sainsbury's Supermarkets 1,400 sq ft let to Domino's Pizza 1,300 sq ft let to Bristal Investments Ltd (t/as) Costa Coffee Current total income £166,000 per annum The largest property is let to Sainsburys Supermarket Ltd for a term of 15 years from March 2014 with a tenant's only break provision at the end of the 10th year. With 5 yearly reviews, collared and capped at 1% and 4% annually respectively. The current rental is £88,000 per annum and commenced 11 March 2019 after review.
Domino's Pizza have taken a 20 year lease from December 2014, current rental is £32,000 pa. With a break at the 11th anniversary, 5 yearly upward only rent reviews at market rent, next review 2024).
Bristal Investments Ltd (registration No: 04953192) commenced trading in 2003 and have taken a 15 year full repairing and insuring lease within the Act from 19th November 2017, subject to market value rent reviews at years 5 and 10 with a tenant only break clause at the end of year 10, by giving 6 months written notice. Rental for years 1 and 2 is £28,000 per annum plus VAT and years 3, 4 and 5 at £31,500 per annum plus VAT.
Our Clients would consider disposing of Jansel 2 (t/as Costa Coffee) under a separate agreement. Offers are sought in excess of £700,000 for the freehold interest.
Location
Bedgrove is probably one of the most popular neighbourhood shopping centres in Buckinghamshire and its popularity is really based on the location and the fact that there is ample car parking, which is free for 2 hours and then £1 thereafter. Occupiers within the shopping centre include Budgens, Martins the Newsagents, Sainsbury, Banks, Restaurants, Bookmakers and a public house. Also a petrol station lies adjacent to the development.
Aylesbury, is situated approximately 44 miles to the North West of London, 23 miles from Oxford and 15 miles south of Milton Keynes. It is located on the junction of the A41, A413 and A418 roads, providing easy access to the M1, M40 and M25 motorways, all of which are in a 20 mile radius. The town has a mainline railway station with a direct line to London Marylebone with a journey time of approximately 55 minutes. Aylesbury is due for enormous expansion over the next few years and will accommodate a population in the region of 80,000 - 100,000.
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